On January $1,2024,$ Sandhill Ltd had the following shareholders' equity accounts:

Common shares $(1,010,000$ issued$)$

$$1,515,000$

Retained earnings

$1,818,000$

The company was also authorized to issue an unlimited number of $$4$ noncumulative preferred shares. As at January $1,2024,$ none had been issued. During $2024,$ the corporation had the following transactions and events related to its shareholders' equity:

Jan. $2$ Issued $101,000$ preferred shares for $$50$ per share.

Mar. $31$ Paid quarterly dividend to preferred shareholders.

June $30$ Paid quarterly dividend to preferred shareholders.

Aug $12$ Issued $110,000$ common shares for $$170$ per share.

Sept. $30$ Paid quarterly dividend to preferred shareholders.

Dec $31$ Paid quarterly dividend to preferred shareholders and a $$0\mathrm{.}25$ per share dividend to the common shareholders.

Dec $31$ Loss for the year was $$99,000.$

$($a$)$

Journalize the transactions and the entries to close dividends and the Income Summary account. $($Credit occount tities are automatically indented when the amount is entered. Do not indent manually if no entry is required, sefect $"$No Entry" for the account titles and enter o for the amounts. Record joumal entries in the order presented in the probiem. List all debit entrias before credit entries.

Date

Account Titles

Debit

Credit